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Benzinga

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Anusuya Lahiri

Meta Wins EU Approval For AI Joint Venture With Reliance

Reliance Commission European Commission Meta Reliance Industries Limited United States Artificial Intelligence Runway Scale AI

Meta Platforms Inc. (META)

The European Commission approved a joint venture between Meta Platforms (NASDAQ: META) and Reliance Industries Limited of India, under the EU Merger Regulation. The partnership will focus on enterprise artificial intelligence services.

Officials examined the deal under the simplified merger procedure and concluded that, due to its limited market impact, it would not harm competition in the European Economic Area.

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